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A Costly Cyberattack on Bybit

Bybit recently suffered a devastating cyberattack that led to a $1.5 billion loss, highlighting major security weaknesses within crypto exchanges. Hackers manipulated multi-signature authorization and UI interfaces, deceiving users into transferring funds to fraudulent accounts. This breach demonstrates that stronger security protocols are necessary to protect digital assets.

The Importance of Advanced Transaction Verification

To strengthen defenses, exchanges must introduce more rigorous verification methods. Validating every transaction request through MPC middleware ensures that withdrawals align with blockchain records, reducing the risk of fraud. Implementing dynamic ledger verification allows for real-time tracking of transaction histories, ensuring that anomalies are quickly detected. Conducting post-approval transaction audits can also help identify potential UI spoofing tactics.

Long-Term Security Solutions for the Crypto Industry

Security enhancements should also include a multi-tier approval process to prevent a single point of failure. Using AI-driven fraud detection systems to analyze deposit and withdrawal trends can help flag suspicious activities for manual review. Cybersecurity training must be conducted regularly to keep employees informed about emerging threats, while securing wallets with insurance coverage provides an additional layer of protection. The Bybit hack serves as a wake-up call for the crypto industry, reinforcing the need for ongoing security improvements.

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Bitcoin Reasserts Its Market Dominance

Bitcoin has once again strengthened its position in the crypto market, with its dominance reaching 61%. Analysts at Matrixport suggest that the Federal Reserve’s aggressive monetary policies and strong U.S. job data are the primary factors behind this trend.

With high interest rates likely to persist, investors are becoming more cautious, shifting away from altcoins and seeking stability in Bitcoin.

Altcoin Momentum Weakens as Bitcoin Gains Ground

Matrixport data indicates that Bitcoin’s dominance fell from 60.3% on November 5 to 53.9% on December 9, as altcoins saw increased investment post-election. However, this rally has faded, and Bitcoin’s market share is on the rise again.

Crypto Market Loses $900 Billion in Value

The cryptocurrency market has suffered a steep decline. In December, the market valuation peaked at $3.8 trillion, with Bitcoin representing 53% of that total. However, by March, market capitalization had shrunk to $2.9 trillion, a $900 billion reduction, highlighting decreased liquidity.

While most cryptocurrencies have struggled, it has remained relatively strong. Over the past month, Bitcoin has fallen 24% from its January peak, while Ethereum has dropped to $1,895 and Solana has seen a 39% decline.

Federal Reserve’s Impact on Bitcoin ’s Price Movement

The Federal Reserve’s policies continue to influence Bitcoin’s price trajectory. Analysts expect liquidity constraints to persist, limiting Bitcoin’s immediate upside potential. However, it remains the dominant asset in the market, and its future will depend on shifts in monetary policy and investor sentiment.

Bitcoin’s market share is likely to remain elevated as liquidity remains scarce and economic conditions remain uncertain.

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Elon Musk ’s X Platform Hit by Cyberattack Amid Political Turmoil

Elon Musk X experienced a major cyberattack on March 10, with over 33,000 users reporting service issues. Musk confirmed the attack, linking it to escalating security threats across his business empire.

Tesla and DOGE Become Targets

NBC News reports multiple Tesla store vandalism incidents, allegedly due to Musk’s political affiliations. His role at DOGE, which is aggressively cutting government costs, has also drawn criticism.

DOGE Savings and SEC Review Underway

Musk asserts that DOGE has reduced federal spending by $105 billion. The agency is now investigating the SEC, inviting public disclosures of inefficiencies. Trump’s administration is expected to revise SEC policies in response.

This cyberattack underscores the heightened risks Musk faces in an increasingly polarized environment.

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Ethereum Plunges as Market Downturn Deepens

Ethereum (ETH) has suffered a significant drop, breaking below the crucial $2,000 level for the first time since late 2023. The broader cryptocurrency market is facing intense selling pressure, and ETH’s inability to hold above this key support level signals further downside risks. Despite recent bullish news, such as the U.S. government’s announcement of a strategic Bitcoin reserve, investor sentiment remains firmly bearish.

Economic Policies Add to Market Anxiety

Much of the recent market uncertainty stems from the Trump administration’s economic stance, which includes aggressive budget cuts and trade policies. While these measures are aimed at strengthening the economy in the long run, analysts agree that they could trigger a near-term recession. The Federal Reserve has hinted at potential rate cuts, but any meaningful liquidity boost remains unlikely in the immediate future.

Ethereum’s Path Forward Looks Uncertain

With ETH losing its grip on key moving averages, the next major support level sits around $1,500, the lows seen in mid-2023. Analysts warn that without strong buying pressure, Ethereum could face prolonged downward momentum, making a recovery above $2,000 increasingly difficult in the short term.

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Bitcoin Faces Another Sharp Decline

Bitcoin (BTC) experienced yet another weekend dip, dropping to $80,000 as the cryptocurrency market faced renewed selling pressure. The leading digital asset, which has been on a downward trend, is now nearing its 2025 low of $78,000. As of 7:00 pm ET, BTC was down 7% over the last 24 hours, briefly recovering to $80,700.

Altcoins Continue to Plummet

Other major cryptocurrencies mirrored Bitcoin’s decline. Ethereum (ETH), Solana (SOL), and XRP (XRP) all posted similar losses, while Cardano (ADA) and Dogecoin (DOGE) suffered steeper drops of nearly 12%. The persistent weakness across the crypto market has raised concerns about investor confidence and the overall market outlook.

Economic Policies Add to Market Uncertainty

Adding to the uncertainty, former U.S. President Donald Trump discussed his economic policies in a Fox News interview, stating that there “could be a little disruption” due to his budget and tariff decisions. His remarks drew comparisons to Paul Volcker, the former Federal Reserve Chairman who aggressively raised interest rates to fight inflation in the late 1970s, causing a recession before stabilizing the economy. Meanwhile, U.S. stock index futures also reflected the market’s caution, dropping 0.85% in early trading.

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Crypto Market Stabilizes After Sharp Drop on U.S. Bitcoin Reserve News

After a turbulent Thursday, the cryptocurrency market held steady on Friday following President Donald Trump’s executive order establishing a strategic Bitcoin reserve and a digital asset stockpile for the U.S.

Bitcoin was last seen trading at $88,949.16 at 04:58 a.m. ET, according to Coin Metrics.

Following the reserve announcement, Bitcoin briefly dropped to $84,688.13. Other cryptocurrencies, including Ether, XRP, and Solana’s SOL, also experienced losses but started recovering.

White House’s crypto and AI lead

David Sacks, the White House’s crypto and AI lead, confirmed that the Bitcoin reserve will contain only BTC already confiscated by the government through law enforcement actions, ensuring taxpayers are not affected. Arkham data estimates that the U.S. government currently holds over 198,000 bitcoins, worth about $17 billion.

The separate stockpile of digital assets will consist of cryptocurrencies forfeited in criminal and civil cases, with no intention of acquiring additional assets beyond what is obtained through legal actions. Government records indicate ownership of approximately 56 ether tokens valued at $119 million, but no known holdings of XRP, Solana, or Cardano.

Traders had anticipated a more direct intervention

Traders had anticipated a more direct intervention in the market, leading to disappointment. “The market was expecting some immediate government purchasing, but that didn’t happen,” noted Steven Lubka of Swan Bitcoin.

While the order allows for budget-neutral strategies to accumulate more Bitcoin, no concrete plans have been announced.

The timing of the announcement, coming before the White House Crypto Summit, was overshadowed by economic uncertainties. JPMorgan analysts remain cautious, stating that they do not expect significant crypto rallies in the near term due to broader economic challenges.

Bitcoin briefly touched $90,000 earlier in the week but now sits below that level. Analysts warn that unless it maintains a strong hold above $90,000, it risks falling toward $70,000.

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Trump Unveils Crypto Reserve Plan, Names Five Key Coins

President Donald Trump has revealed plans to create a national cryptocurrency reserve, selecting five major digital assets to be included in the initiative.

Immediate Price Surge in Named Cryptocurrencies

Following Trump’s announcement, Bitcoin, Ethereum, XRP, Solana, and Cardano experienced notable price increases as investors reacted positively to the news.

Policy Reversal: From Biden’s Restrictions to Trump’s Support

Trump’s approach represents a stark contrast to the Biden administration’s previous stance on crypto regulation, suggesting a shift toward government acceptance of digital assets.

Awaiting Further Clarifications From the White House

Details on the structure of the reserve remain vague, with additional information expected at the upcoming White House Crypto Summit hosted by Trump.

Trump ’s Changing Stance on Cryptocurrency

Despite once labeling Bitcoin a scam, He has embraced digital assets in recent months, prompting speculation about his newfound enthusiasm and its implications.

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Crypto Market Bounces Back: Bitcoin Hits $87K as ETH, SOL, and XRP Rally

The cryptocurrency market showed signs of resilience on Wednesday as it recovered from recent losses, shaking off concerns over newly implemented U.S. tariffs on Canada, Mexico, and China. Bitcoin (BTC) climbed over 4% to reach $87K, while Ethereum (ETH), Solana (SOL), and XRP recorded gains ranging from 4% to 7%. Investors responded positively to the market rebound, restoring some confidence after the previous downturn.

Bitcoin Regains Momentum

BTC saw a 4% boost, trading at $87,400 within a 24-hour range of $81,529.24 to $88,911.27. The price uptick was partly driven by Japanese firm Metaplanet’s decision to acquire 497 BTC, valued at $43.9 million.

Ethereum Sees 4% Growth

ETH surged by 4% to $2,159, fluctuating between $1,996.77 and $2,220.36. A report from Crypto Rover highlighted that former U.S. President Trump holds over $500 million in ETH, further fueling investor optimism.

XRP Climbs 7% Amid Whale Activity

XRP advanced by nearly 7%, settling at $2.44, with an intraday range between $2.29 and $2.52. The price increase followed reports that major holders accumulated 1 billion XRP tokens.

Solana Breaks $140

SOL jumped 5% to $142, moving between $131.57 and $146.40. The asset’s bullish movement mirrored broader market trends.

Meme Coins Show Gains

Dogecoin (DOGE) added 4%, reaching $0.1995, while Shiba Inu (SHIB) rose 3% to $0.00001293. Pepe Coin (PEPE) inched up 1% to $0.000006945.

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Bitcoin Rebounds Strongly Following Trump’s Strategic Reserve Plans

March 3 (Reuters) – Bitcoin rebounded strongly on Monday, climbing 20% from last week’s lows, following U.S. President Donald Trump’s announcement that a new national reserve would include several major cryptocurrencies.

Trump Unveils Cryptos to Be Included in the Reserve

Trump disclosed via Truth Social that his January executive order would establish a reserve incorporating Bitcoin, Ether, XRP, Solana, and Cardano—assets that had not been previously identified.
“Bitcoin and Ether will form the foundation of this reserve,” Trump posted on Sunday.

Crypto Prices Surge After the News

Following the news, Bitcoin surged by over 20% from its November lows, breaking out of a downward trend that had persisted since mid-January due to uncertainty around Trump’s regulatory approach. Bitcoin last traded at $94,154, up from $78,273 on Friday.
Ether also climbed 20% over the weekend to $2,482, while XRP surged 38%, Solana 20%, and Cardano skyrocketed 78%.

Market Analysts See a Game-Changer for Crypto

Chris Weston, research head at Pepperstone, described the announcement as a game-changer for the crypto industry, providing a much-needed positive trigger.
Trump’s upcoming White House Crypto Summit on Friday could further boost market sentiment, though economic headwinds may still pose challenges.

Bitcoin ’s Recent Struggles and Market Uncertainty

Bitcoin fell 17% in February—its worst monthly performance since June 2022—and remains down more than a third from its January peak of $105,000.
While Trump’s election initially sparked excitement among crypto investors, his administration has yet to implement substantial policy changes beyond pro-crypto appointments.

Concerns Over How the Reserve Will Be Funded

Despite the recent price surge, IG market analyst Tony Sycamore cautioned that funding concerns remain, with possibilities including taxpayer money or crypto assets seized through law enforcement actions.

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A Strategic Move into Credit Union Services

Metallicus has acquired Bonifii, a CUSO connected to 70 credit unions, bringing blockchain technology to a larger audience. Through the Digital Banking Network (TDBN), this partnership will provide credit unions with advanced on-chain solutions designed to enhance efficiency and reduce costs.

Bonifii’s Blockchain Expertise

Bonifii’s unique connection to a blockchain core developer offers its credit union partners access to innovative tools. Metallicus CEO Marshall Hayner emphasized the acquisition’s potential to onboard more financial institutions and deliver customized blockchain services globally.

FedNow Integration: A Competitive Edge

Metallicus’ early adoption of the FedNow digital payments system underscores its leadership in real-time banking solutions. By incorporating Bonifii, Metallicus strengthens its ability to offer instant, government-backed payment services to credit union members.

Financial and Market Impact

Bonifii’s $20 million in funding and Metal Blockchain’s $13.65 million market cap reflect the combined strength of this partnership. Together, they aim to redefine digital banking for credit unions.

Shaping the Future of Financial Services

With John Ainsworth transitioning to Metallicus as general manager, this collaboration is set to expand blockchain adoption in the credit union sector, driving innovation and improving member services.